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Search Results 0 to 49 of about 102 (some duplicates have been removed)
FOX News
Dec 28, 2012 11:00pm PST
wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the cliff. president obama wants us to go off. he is going to come back with a larger plan, the obama tax cuts. then he will be able to reinstate those across-the-board sequestration cuts to gut things like defense, national institutes of health. he will be able to reinstate a lot of programs and give his caucus the opportunity to say, look, i am voting for something and to restore tax cuts for the middle class. i
MSNBC
Dec 29, 2012 2:00am PST
the red room, president obama held firm for tax cuts for families making up to $250,000 per year, and joining me on the north lawn of the white house is kristen welker. kristen, let's listen to what the president said about and up or down vote or what he expects from the senate. >> i had a good and constructive discussion here with the leadership about this tax hike on the middle-class. i am optimistic that we can reach an agreement that will be passed in both houses. if an agreement is not reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor and up or down vote for the floor, and i believe a p proposal could pass both houses with majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be be the big news of the day, and isn't this what the white house wanted all along? >> well, it is. it is prp's way of saying, look, vote on his basic proposal, the proposal that will extend
FOX News
Dec 29, 2012 10:00am PST
be hammered out shall the threshold for extending the push tax cuts and president obama campaigned and sounds like, 400,000 may be where they're heading. a leader says that permanency is key, and fixing the death tax and a permanent solution for the alternative minimum tax which threatens 28 million americans every year, would also help win republican support, heather. >> mike emanuel reporting from washington with the latest, thank you, mike. >> kelly: heather and mike, thank you very much. and president obama trying to light a fire under congressional lawmakers, urging them to come up with a deal after friday's bipartisan white house summit. >> we're now at the last minute. and the the american people are not going to have any patience for a politically self-inflicted wound to our economy. >> kelly: so the question becomes, why can't washington seem to work this out? why has it taken so long when they knew they had this fiscal cliff coming to them? joining me now for a fair and balanced debate on the topic, angela mcglowan is with us, and mark hanna, a strategist and former aide
FOX Business
Dec 29, 2012 12:00am EST
. whether it is obama's tax increase, whether we get obama's tax increase tomorrow or get it a month from now the net result is still the same. we're going to have a less competitive economy because of what is coming out of washington. adam: chime in, rick said, nah why do you say that? >> you will get a tax increase. i think number will be closer to 500,000 before we're done. certainly closer than 250,000. this is, i don't know, for years i've had to listen to this, it is going to hurt our economy if we raise taxes on the top 2%. there are many things happening that can hurt our economy. the fact we're having this conversation two or three days before the end of the year is hurtings our economy. adam: but we've seen that. >> raising taxes isn't going to be it. adam: let me bring dan back in here. dan, i want to ask you, raising taxes only raises $80 billion at best in a budget almost a trillion dollars over budget. so what do you to fix that problem? >> all we have to do to balance the budget in 10 years limit the growth of government spending so that the budget climbs by an average 2.5%
FOX News
Dec 28, 2012 6:00pm PST
hike january 1, cuts, gives back $3 trillion of it and the bush tax cuts then become the obama tax cuts and he seems like the guy that is the tax cutter in all of this and this is a strategy, a plan from the very beginning. >> i don't think that is going to happen. i think the key is whether boehner uses the hastert bill which was to never put a bill forward that the majority in the party is not going to vote for. if he will put the hastert rule aside and give republicans a path to vote no that allows the president and the democrats to add their votes where the minority of republicans to pass this thing and i think bill cunningham is right about how this may well play out. i don't think the president want -- the president does not want to go over the cliff. the last thing he needs right now is to -- is to risk going into a second recession. the first one he can blame on push and democrats and i'm there with him. the second one will be his and on his watch. >> sean: there has been a bill in the united states senate that extends the bush tax cuts for everybody and he could at least -- the
CNN
Dec 29, 2012 10:00am PST
have to add both the obama care tax that's coming and the tax -- the disappearing bush tax increase. >> right. >> and this hits primarily, as you know, small business owners and people who file subchapter-s corporations. >> not primarily. it hits some of those people. >> well, over half of all the small business income that gets -- ends up paying this higher rate, if you do it, and the last time we did this, more than two-thirds of the people who got hit were the subchapter-s corporation. i think it would have a very significant effect. but mostly the other effect it has is that we're not cutting spending because we're spending too much money. and that sends a very bad signal. if we're not going to do entitlement reform, because every time we talk about it obama says, no, let's raise taxes instead, now we're dealing with tens of trillions of dollars of unfunded liabilities that were not -- for four years obama's done nothing on entitlement reform. nothing, nothing, nothing, for four years. a lot of golf. nothing on entitlement reform. what has he done? chirped about raising taxes on
FOX Business
Dec 29, 2012 4:00am EST
problem in 2013 and 2014, but i do think it's obama's economy now. the republicans passed the tax cuts for one group, let's say all the way through, not the very top group, i don't know where that negotiation is going to come out, but if they do that, i think that they will be held blameless for the economy. lou: as we wrap up here, i would like to ask you a question this way. because i said last year that i felt strongly at the beginning of the campaign. the democrats were the republican -- the democrats or the republicans, which party led the discussion to the enduring that of the middle class sure enough, president obama shifted to a middle-class message that resonated, if only at the margin that was sufficient for victory. are the republicans learned anything here? are they going to start talking about working men and women? working class and the american dream. >> i think they are. i think the presidential race was a real problem. because it was never growth. it was always about this and that and detail. romney wasn't the issue. the issue was obama. it was the worst single re
LINKTV
Dec 29, 2012 2:00pm PST
with obama's campaign pledge to raise taxes on the wealthiest 2% of taxpayers ought. it is a condition that so far is unacceptable to republicans want to extend current tax breaks regardless of income. the pressure will be elements of the house republicans to follow through. at this point, it is an open question. >>> at least six people in pakistan have been killed, dozens injured in an explosion in karachi. it ripped apart a bus parked on the road and a hotel was also damaged. they're still no word on what caused the explosion. the police say a bomb was planted on the boss. another boat -- as it was planted on the bus, but another official said it was on a motorbike. >>> videos released follow several high-profile taliban attacks in the northern cities. the detonations envoy to syria has warned the country's crisis will go one of two ways, to help or a constructive political process. they say that the neighboring countries will not be to take many more refugees. they were speaking in moscow to the russian foreign minister. >> object of everybody who is acting in a responsible manner i
KICU
Dec 28, 2012 11:30pm PST
meeting with president obama good. taxes go up for all americans and traásic cuts will hit -- and drastic cuts will hit the national budget. >>> the dow fell 158 points, and the nasdaq fell 25 points. >> they may you know want to do something illegal just to put food on the table. >> coming up in 18 minutes finally strapped the hundreds of thousands of people set to feel the impact of the financial cliff starting tomorrow. >>> a sixth suspect has now been charged in connection with a beating and homicide in san francisco where the victims were bound and gagged. ktvu's david stevenson was in court today and tells us for the first time the district attorney talked about a possible motive. >> cameras were not allowed in this san francisco courtroom as prosecutorred announced a sixth suspect in a brutal beating and homicide in which two victims were left beaten and gagged. katherine uong described as a felon nicknamed killer is the first to be charged with the killing. an 18-year-old woman was found with reed also severely beaten she is now recovering. george gascon today signaled a m
MSNBC
Dec 29, 2012 12:00pm PST
taxes are only days away unless congress acts. one step forward, two steps back. president obama and republican lawmakers have been dancing that waltz for six weeks now, but the music stops when the countdown clock at the bottom of your screen runs out. so where do fiscal cliff talks stand at this critical hour? nbc's kristen welker is on the north lawn and luke russert are both following developments this saturday afternoon. kristen, i'll start with you. any indication at this particular point as to what's happening behind closed doors this afternoon? >> reporter: well, i think most of the action is going on in the hill where staffers with majority leader reid and minority leader mcconnell are trying to conjure up some last-minute deal and this plan would not be the grand bargain that john boehner started initially working on. that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the big sticking point, taxes. of course, democrats and president obama have called f
FOX Business
Dec 29, 2012 10:00am EST
government has done what it can do. many the private sector. that tax rate, you're not adding in the obama increase in petrol taxes. it's over 40 percent. that it's all businesses, subchapter s corporations, elsie's. the larger corporation, the corporate tax rate goes down. that makes them feel good. the businesses that will be hit by these tax increases are the very small and midsize businesses that create jobs same people that get hit with obamacare, the energy increases, and a labor cost increases. lou: what if i told you that it makes some sense. give him at the margin what he wants on taxes. whether that's on investment tax , camping deductions. basically what mitt romney was proposing. get that done. then say what you going to do? you going to still be left if you roll all of that up. you will still be left with a huge deficit. it's going to have to mean cutting the federal budget. >> even if we increase the tax rates, the top 1 percentn this country makes seven timbers of the income. 37 percent of the taxes. so a fair share argument really is it -- lou: you're getting a again start
FOX
Dec 28, 2012 10:00pm PST
and optimistic. >>> senator mitch mcconnel called the meeting with president obama good. taxes go up for all americans and traásic cuts will hit -- and drastic cuts will hit the national budget. >>> the dow fell 158 points, and the nasdaq fell 25 points. >> they may you know want to do something illegal just to put food on the table. >> coming up in 18 minutes finally strapped the hundreds of thousands of people set to feel the impact of the financial cliff starting tomorrow. >>> a sixth suspect has now been charged in connection with a beating and homicide in san francisco where the victims were bound and gagged. ktvu's david stevenson was in court today and tells us for the first time the district attorney talked about a possible motive. >> cameras were not allowed in this san francisco courtroom as prosecutorred announced a sixth suspect in a brutal beating and homicide in which two victims were left beaten and gagged. katherine uong described as a felon nicknamed killer is the first to be charged with the killing. an 18-year-old woman was found with reed also severely beaten she
CNN
Dec 29, 2012 4:00am PST
this circumstance, you know, president obama actually extended these tax cuts with the intent that washington would take a more reasonable look at how we can phase in fiscal policy in a way that wouldn't do damage to the overall economy. and i think that's something we really have to be concerned about. you said earlier, you know, the average worker making 3,500 -- would see their taxes go up 3,500 should we go over the fiscal cliff. that's a significant impact to individual citizens. and so we should be very concerned about that and what that might mean to the broader economy, which some of us, i think, could put us in a mild recession next year. >> what is it with washington? what is it with our elected leaders they can't come up with a deal at this point? they have to wait to make it a cliff hanger. we saw this with the debt ceiling debacle last summer and now again. do they think this is a popular move? a good move? what's wrong with them? >> alison, you know, look, the real travesty of all of this is uncertainty. i know a number of your business guests will come on and say, lo
FOX News
Dec 29, 2012 3:00pm PST
democrats in the right direction with respect to tax. president obama has shown no leadership on this. what they really need to do is minimize the damage from what president obama is trying to push for the higher tax cuts because they're going to need public opinion on their side in the new year to really make entitlement reform because at the end of the day, we're ohm talk being tax. we know $16 trillion in debt. the real problem right now is entitlement spending because at 62 to 65% of the federal budget. we've got this problem ballooning by the hour w. got to do something about it. right now i think house republicans are going to have to take it on the chin and get the deal because we need public opinion on our side. >> heather: alexis, will they get it done? >> i hope so. i think the lack of leadership has been on the house side. speaker boehner couldn't even get his own bill passed. so he's been fumbling the ball. i think what the president is doing with the up or down vote is trying to bring oversight to the american people in the spirit of the holidays, he's trying to let
PBS
Dec 28, 2012 4:00pm PST
that president obama presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes, there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs, cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the f
FOX News
Dec 29, 2012 1:00pm PST
. entitlement reform and president obama doesn't want to talk about it. he wants to focus on the tax rates which is for all intents and purposes utterly irrelevant. >> gregg: so in other words, we can count on tax increase to finance even more spending without doing anything significant that same reckless spending? >> right. no one wants to touch entitlement reform because it's not popular and to might not be popular. but it's necessary. whether you do it today or ten years from now, something is going to be done because we don't have $80 trillion of unfunded liabilities to meet the cost. hopefully in a month from now maybe there is going to be more talk about what i can do with entitlement reform. until that is addressed, servicing noise. it happens on both sides. >> gregg: it's like wa, wa, wa. for incriminations there is plenty going around. it's all john boehner's fault. there is something to that i suppose. >> i think there is some recrimination that could go around but the president is leader. he hasn't led on this in four years. having this last minute type of thing where he comes out and
MSNBC
Dec 29, 2012 1:00am PST
congress and the white house can't reach a deal on taxes and spending before the end of the year and they maybe get us into a recession, it's definitely happening. that was the whole point of president obama's press conference this afternoon. >> i still want to get this done. it's the right thing to do for our families, for our businesses, and for our entire economy. but the hour for immediate action is here. it is now. >> allow me a quick update here. that press conference, it came after president obama met with john boehner and nancy pelosi and harry reid and mitch mcconnell, so all the key congressional leaders. and listen to the president here. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy.
MSNBC
Dec 29, 2012 3:00am PST
would be able to hock it, some amount of taxes, which will be smaller than what president obama wanted, but will come separate from spending cuts, at least at the outset, and another set of negotiations after the new year, that will have spending cuts and taxes in it. it seems to me that that's a recipe for republicans to end up getting a lot more in taxes than they would have got in all with an up-front deal. are your colleagues worried about that at all, or are you? >> first of all, you're enlightening me on something i'm not aware of. that was not the conversation i had with my colleagues across the aisle and that wasn't the conversation i had with the minority leader. so you have information that i don't have. look, you can't solve the problem with taxes. you have to do both. this country is in trouble, fiscally and financially as well as ratings. and if we don't do something significant, we'll see another rating cut. and there'll come a time when the interest costs, we cannot afford. so the question comes is, what is the best thing we can do now, given the political dynamics that
CNBC
Dec 28, 2012 7:00pm EST
they would blame the absence of spending cuts on president obama and they know the taxes will go up anyway regardless of what they do if they don't pass anything and they would make the argument they would limit the tax cut and speaker boehner has made the same argument. >> thank you so much. we want to show people what is going on with the after markets because even though john says people are optimistic the markets are not optimistic. right now if the dow jones industrial average were to open at this moment it would be down 315 points. that's a reflection of the futures trading that happens in the after-hours. we'll see how asia opens on monday and right now the markets do not like what they see. they are not optimistic at this point and maybe if a mini deal gets done, a mini deal is not enough to deal with what the country faces. after all of this time the president still wants congress to come up with a plan instead of assuming the leadership mantle himself. let's talk to a member of congress about that. james langford serves in the house budget committee and he joins me now. si
FOX News
Dec 29, 2012 7:30am PST
don't think any sensible person would like the obamacare bill. but tax increases are a fact of life. that's the story, tax increases under mr. bush and surpluses under mr. clinton tax increases as far as the eye can see under mr. obama. >> when do the spending cuts happen, sarah? >> never. >> and you often see the tax increases kick in and in the health care law, and spending never gets cut. >> i think you need to look where the spending goes, provide preventive care. and we saw 80 million access preventative care and that's a net savings for the entire health care system passed on to all of us. >> how have job cuts we've seen the medical device makers, they're sounded the horn about them. how does it help the broad economy though? >> what you're seeing is readjusting of the economy. most of this tax money comes out of those making 250,000 or mo more, an increase on those individuals. at the same time that we're finding out here on capitol hill about a decrease on those making 250 or less, so, majority of americans. when we have this increase on a very small portion, we see that tho
NBC
Dec 29, 2012 6:00pm EST
few minutes. >> you are watching wbal-tv 11. this is 11 news at 6:00. >> in just 48 hours, taxes could go up substantially. president obama and house speaker john banner could not reach a compromise. it is now up to the leaders of the senate to try. they are working on a plan today. they're hoping to bring it to lawmakers to mark. >> as senate leaders work behind closed doors, president obama and republicans issued it messages on the web. >> we cannot afford itself- inflicted when to the economy. the economy is growing. keeping it that way means the folks you sent to washington have to do their jobs. >> if the nation goes over the fiscal cliff, each side says the other is to blame. correct we can still avoid going over the fiscal cliff if the president and senate step forward and work with republicans to solve the problem. >> all over the country, uncertainty is in the air. >> it is not a matter of whether i will pay might not like bill, but it will the played my savings. >> it is the perceived impact that could cause a drop in sails. >> getting a deal is up to the 's top democra
CNN
Dec 29, 2012 3:00am PST
recession since the great depression. so president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they're extended by 2020, the bush-era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a year. >> we need to stop the job killing tax hikes, and we need to start cutting spending now. >> republicans refuse to play ball. they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls for government to be as small as possible. the roots are as old as american politics, but today the philosophy's main spokesman is this man. grover norquist, president of americans for tax reform. norquist's pledge signed by almost all republicans in congress forbid signatories from raising taxes ever under any circumstances. things come to a head in the summer of 2011, republicans demand the government reduce the deficit as a c
FOX News
Dec 29, 2012 8:30am PST
important policy work. it is probably a bad idea. we don't need new tax. the mileage tax could hurt fuel efficient car it is the and questions of heavy congestion times and it is unworkable idea and why the obama administration distanced it. >> we have a trust fund in 2013 and that is to go to the roads. it will be negative and needs a fuel tax to fund it again. >> it is not too long. it will go negative in 2015. the gas tax is raised continuously since it was enacted in the 1950s. they are paying 64 cents a gallon in taxings. why is that the only proposal. it why not freedom. there is it public assets in every country but here at home. la guardia. terrible airport owned by the government. new mexico and new zealand. airports are tradod the stock exchange and helps the government and services as well. >> carroll. i tell you, i use the roads in the country and i go skidding on twos to school and i am part of the reason there is it pot holes it makes sense to charge me more. >> i think that is a linier solution to a complex problem. if you have a suv . i am with johnathon. why can't they a
CSPAN
Dec 29, 2012 7:00am EST
. president obama promised in his campaign to lower the corporate tax rate, which i believe would bring some corporations back to set up their factories of in america and said of china, india, brazil. it just seems like congress and our leaders in general are trying to bring america down equal to the other nations of the world. i believe it is all headed for a one world government. they have to knock america down before they can get us equal with the other countries in the world. we are building the other countries up. it's a cinch to me like our leaders reject i agree with the last caller, there should be term limits. after they are in there so long, their interest is not in helping america. it seems to me like they are positioning for money in their own pockets or they become lobbyists. this secreted a law that they should not be able to become lobbyists for a few years sucker they leave congress or senate. they need to just bring america back up. if it would bring more jobs back to america, then we would have more taxes to be collected. host: more in the financial times this morning.
CBS
Dec 28, 2012 11:00pm PST
: congressional leaders met with president obama at the white house, trying to avoid the automatic tax hikes and spending cuts set to kick in january 1. the president reminded lawmakers there's not much time left. >> we're now at the point where, in just four days, every american's tax rates are scheduled to go up by law. >> reporter: senators harry reid and mitch mcconnell returned to the senate floor, pledging to work through the weekend. >> we are engaged in discussions, the majority leader and myself and the white house, in hopes that we can come forward as early as sunday and have a recommendation. >> we're gonna do the best we can for the caucuses we have and the country that's waiting for us to make a decision. >> reporter: democratic and republican leaders have agreed to extend jobless benefits and some tax increases. but the income threshold is not yet clear. the president and senate leaders are expressing optimism that they'll get the job done. but the president has a backup plan just in case. >> if an agreement isn't reached in time, between senator reid and senator mcconnel
FOX News
Dec 29, 2012 9:00am PST
president obama breathing room to hold out for the taxes on high earners. so be it it will be worse for conditions. >> i don't think either side wants this to happen. president obama doesn't want to give an inaugural address . conscience don't want to go over the cliff either. you want to start out in a new congress and in the new year on a right foot with a bipartisan agreement. we'll have a smaller deal hopefully before new years. >> i want to play a sound by the from charles krauthammer and get your take on this. listen to charles. >> it is clear from the beginning he had no intention to solve the fiscal issues. he's been using this and i must say with great skill and ruthless skill and success to fracture and basically shatter the republican opposition. the only redoubt of the opposition is the house . his objective from the very grinning was to break the will of the republican house and to create an internal civil war and he's done that. >> talking about president obama trying to create an internal civil war. you think it is a grand strategy. >> i don't think president obama wi
CSPAN
Dec 29, 2012 12:00pm EST
sympathetic to president obama's proposal for a tax credit for companies bringing manufacturing back or invest back in the united states and in communities and create jobs and propose a 20% tax credit for those companies. people say why don't you just cut the corporate tax rate across the board, and my argument to that, i guess, the gentleman left, is that i don't think right now with the deficit that either my law firm or investment banks in wall street need the corporate tax cuts. target the corporate tax cuts to areas that are engines of economic growth, and so i'm sympathetic to tax incentives if they can be tied to accountability for companies to actually invest in other communities and create jobs. next question? >> talking about tax incentives, on the other side, won't it be okay to peoplize too many -- or, i guess that's not quite the right word, but to have, you know, to tax the import for that discourages imports and encourages the locals manufacturing? >> well, that's a big debate about how much protectionism we should have as a country. i mean, my view is that if the competi
ABC
Dec 29, 2012 6:00am PST
left before taxes go up for all americans and federal programs see major cuts. president obama met with republican and democratic leaders yesterday in a high stakes meeting at the white house. senate leaders will debate a new plan over the weekend, hoping to have a deal to vote on by monday. then it will go to the house. the president said a deal is critical for the nation. >> economists, business leaders all think we are poised to grow in 2013 as long as politics in washington don't get in the way of america's progress. so we've got to get this done. >> in the event congress does not make a deal, here's how the fiscal cliff could affect you. first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend less on fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shoppers into their stores. >> the bowl game is al
CNN
Dec 29, 2012 2:00pm PST
the worst recession since the great depression. so president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they're extended, by 2020, the bush-era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a year. >> we need to stop the job-killing tax hikes, and we need to start cutting spending now. >> reporter: republicans refuse to play ball. they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls for government to be as small as possible. now, its roots are as old as american politics. but today the philosophy's main spokesman is this man, grover norquist. president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories from raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the governm
CBS
Dec 28, 2012 7:00pm EST
the president. the decision was made at the polls in november. obama has the upper hand and he wants all taxes to go up so he can spend and run this country in the ground. but gary points out, the president wants more taxes only on the well to do. so taxing the rich will not get all some may want but that does not mean they should not pay what they ought to pay, and that is what they paid in 1999. okay then, okay now. you want to pay down the national debt? put everyone to work. that was doing it 15 years ago, and that can do it now. >>> that is our broadcast for tonight. we'll hope you will be around for our broadcast at 1 1:00. i will be here with erica. we'll see you then. have a great evening. bye-bye. >>> from cheating to fist fighting to a drug overdose, the biggest celebrity scandals of 2012. >>> lindsay lohan's arrest. are you afraid your daughter's going to go back to jail? >> dena's appearance with dr. phil. >> in your little shoes. >>> demi moore's wild dancing and the frantic calls to 911. >> she's convulsing. >>> "twilight's" kristen stewart caught cheating on r-pat. >>>
ABC
Dec 29, 2012 5:00am PST
than three days left before taxes go up for almost all americans and several programs see major cuts. president obama met with republican and democratic leaders yesterday in a high stakes meeting at the white house. senate leaders will debate a new plan over the weekend, hoping to have a deal to vote on by monday. then it will go to the house. the president said a deal is critical for the nation. >> economists, business leaders all think we are poised to grow in 2013 as long as politics in washington don't get in the way of america's progress. so we've got to get this done. >> in the event congress does not make a deal, here's how the physical cliff could affect you. first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend lesson fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shoppers into their stores.
FOX Business
Dec 28, 2012 11:00pm EST
afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part of the discussion. that is significant development for house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and republicans will try to sell its house and senate members. if they can do that the voting begins. there is some progress report this evening, though there are no gua
ABC
Dec 28, 2012 11:00pm EST
. >> reporter: president obama is pushing for a stop gap measure that would at least avoid tax increases on people earning less than $250,000. frustration is growing. a simple stop gap percent is not what men -- measure is not what many in washington hoped for. many blame president obama for the collapse of a bigger deal that would reduce spending and cut the country's debt. >> it is the president's responsibility to lay out a plan and to bring people together. >> house members don't get back here tonight sunday night. >>> president david wilson may be getting a remove of sorts after a lengthy public meeting months announced it is negotiating to keep him on until june 2014. his current contract expires in june of 2013. it was a rough year with two shootings on campus. >>> the russian president signed a law banning americans from adopting russian children. a law that people say is heartbreaking and punishes no one but the children. one family says he just signed a death notice for thousands of orphans in his country. >> reporter: you may have heard of her, she won three gold med
CSPAN
Dec 29, 2012 3:32pm EST
that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in office right now anyway. so i think we would still be here talking about what to do come january 1. host: all right. david in maine on our line for independents. go ahead, david. caller: yes. i've been around for a few years and i've seen this coming since 1970. when revenue -- when wages did not go up, revenue doesn't come into the government. and when we constantly spend and promote money, shipment overseas, shipment job overseas, and we blame people like me on social security, you know we're elite on systems. excuse my language. host: david, we're going to leave it there. joseph rosenberg. guest: it is true right now that tax collections are at near historic low but that largely remains a result of the still weak economy. and so when the economy went into recession in late 2008, tax collections really plummeted and have remained
CBS
Dec 29, 2012 7:00am PST
: top congressional leaders met with president obama at the white house, trying to avoid the automatic tax hikes and spending cuts set to kick in january 1st. the president called the meeting constructive, but reminded lawmakers there's not much time left. >> we're now at the point where in just four days every americans' tax rates are scheduled to go up by law. >>reporter: senators harry reid and mitch mcconnell returned to the senate floor, pledging to work through the weekend. >> we are engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation. >> we're going to do the best we can for the congresses we have and for the country that's waiting for us to make a decision. >>reporter: democratic and republican leaders have agreed to extend jobless benefits and some tax increases, but the income threshold is not yet clear. the president and senate leaders are expressing optimism that they'll get the job done, but the president has a backup plan just in case. >> if an agreement is
MSNBC
Dec 28, 2012 11:00pm PST
about a deal on taxes. speaking in the white house briefing room, president obama condemned congress for failing to resolve its differences in any normal way. >> christin, let's take a listen to what the president said about the up or down vote about what he expects to emerge from the senate. >> i just had a good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. i'm optimistic. if an agreement isn't reached in time, between senate store reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up or down vote. i believe such a proposal could pass with bipartisan majorities. >> this up or down vote seems to be the big news of the day. isn't this what the white house wanted all along? >> well, it is. it's president's obama's way of saying vote on his basic proposal. it would extend in employment insurance benefit and deal with unemployment insurance cuts. >> so the question is, could they actually get that many republicans to vote for this pac
FOX
Dec 28, 2012 11:00pm EST
: with the nation on the verge of the largest tax increase since toward war 2 president obama called congressional leaders to the white house for one last desperate shot at a -- world war ii, president obama called congressional leaders to the white house for one last desperate shot at a deal. some republicans believe the meeting with the president is really just for show. >> when the president calls congressional leaders to the white house, it's all political theater or they've got a deal. >> reporter: democrats insist the president tried for weeks to get an agreement on plan a, a $4 trillion debt deal, and after the failure of speaker john boehner's plan b mr. obama has taken the initiative to bring plan c to the meeting today. >> this is not for show. this is a last ditch effort by the president to bring the congressional leaders together to try and get at least a small package, small deal together, before the new year to avoid some of the tax parts of the fiscal cliff and to deal with some of the unexcept issues. >> reporter: that package first unveiled by the president last frid
ABC
Dec 29, 2012 6:00pm EST
. and every american's tax rates are going up. every american's paychecks will get a lot smaller. >> friday, president obama and congressional leaders met about an hour and agreed to keep talking. >> it is constructive and it is getting done. we will see. >> this eveleaders in the senate are signaling they are ready to compromise. >> i'm hopeful and optimistic. and if there were is no deal the president wants an up or down vote extending tax cuts for those making a quarter million dollars or less. >> i will urge the senate to hold an up or down vote on a basic package to protect the middle class from a tax hike extend vital unemployment insurance for americans looking for a job. >> the impasse has shaken wall street, the dow jones falling 400 points since last week. business people but this man are worried about the future. >> we are deciding how many people we are hiring and we are figuring out how many machines and robots to invest in our factory. >> commits to be axed, there is agreement on 90% of the tax debate. it is the fate of the top 2% that has the two sides so far apart
NBC
Dec 29, 2012 7:00am EST
steep tax hikes and deep spending cuts looming, president obama used the power of his office to turn up the pressure on congress, making a quickly arranged appearance in the white house briefing room friday. >> the hour for immediate action is here. it is now. i'm modestly optimistic that an agreement can be achieved. >> reporter: the president repeatedly tapping into the public's frustration to bolster his argument. >> the american people are not going to have any patience for a politically self-inflicted wound. ordinary folks, they too their jobs. the notion that our elected leadership can't do the same thing is mind-boggling to them and needs to stop. >> reporter: the stern words came on the heels of an hour-long meeting with congressional leaders. sources close to the talks say mr. obama gave lawmakers two options. either come up with a bill that can pass both houses or allow a vote on his plan which among other things would extend unemployment benefits and tax breaks for those making $250,000 or less while allowing rates to raise on wealthier americans. something many republican
CNN
Dec 29, 2012 7:00am PST
that. now to avoid the distinction, congress needs to submit about 100 bills to president obama in the next few days. >>> that lack of productivity isn't hurting paychecks on capitol hill. even as tax hikes and an end to unemployment benefits for two million people could be on the way because of the fiscal cliff, congress, though, hey, about to get a raise. part of an executive order that president obama issued which ends a pay freeze for federal workers. their salaries, yeah, they'll if up by half a percent after march 27. that's an extra $900 before taxes. currently members of congress make $174,000 a year except for leaders who make a little more. the last time there was a pay raise was 2009. >>> there is one thing the senate has agreed on, getting aid to victims of superstorm sandy. by a 61-33 vote the chamber passed a measure offering $60 billion in help. it heads to the house which must approve the bill by thursday or else the process to consider the money has to start all over again. at least 113 people were killed when superstorm sandy hit in late october. the governors of
MSNBC
Dec 29, 2012 11:00am PST
that is part of it and we've seen president obama take this tactic before. during the payroll tax cut fight, you'll remember he ran out and talked to people in different states and tried to ramp up pressure congress in that way. last night president obama came out, addressed the nation and again tried to turn up the heat on congress by saying essentially that americans are fed up. he tries to bring the public into this debate to increase pressure, so certainly the interview on "meet the press," currently a part of that strategy and the president and his staffers watching these negotiations quite closely going on behind the scenes. >> kristen welker, thanks. we'll come back to you later. >> over to capitol hill now, luke russert is standing by. luke, what are you hearing, if anything, about progress today? >> reporter: this morning, craig, there were a hints of optimism and that's subsided to a degree. as kristen mentioned. there are sources close to the talks that say no deal has been reached and again, these negotiations are fluid. they go up and down. it's not an easy road to ge
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